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Former Newcastle United owner Mike Ashley is weighing up a potential bid for Sheffield Wednesday.
Mike Ashley has reportedly provided proof of funds to administrators in an attempt to buy Sheffield Wednesday.
The crisis-hit club has been taken out of Dejphon Chansiri’s hands following an unpaid tax bill. Fans have protested vehemently against the owner, with the Owls being plunged into administration.
This led to a 12-point deduction - rooting them to the foot of the Championship - but promised some clarity over their future. Wednesday’s sale is being managed by Begbies Traynor, who want any potential buyer to have at least £50million to avoid another boardroom disaster.
Mike Ashley shows proof of funds
The Guardian claim former Newcastle United owner Ashley has laid his cards on the table and values the club at £10million. A billionaire, there are no reservations about the Sports Direct tycoon being able to fund a possible takeover.
Ashley sold Newcastle to a Saudi-backed consortium in October 2021 for £305million. He maintained an interest in football, buying Coventry City’s stadium the following year before selling it back to them for double the money three months ago.
The 61-year-old also considered a move for Derby County during their period of financial turmoil. Ashley - while hated on Tyneside - has been backed to steady Wednesday financially.
England cricket legend speaks out
England cricket legend Michael Vaughan - a lifelong Owl - believes Ashley can do a similar job to Sunderland’s owners and take Wednesday back to the big time. He wrote in The Telegraph: “Every fan, myself included, is hopeful someone has the vision. I wouldn’t mind a Mike Ashley-style owner. People criticise him but I look enviously at where Newcastle are now, so you never know.
“It’ll be a long road back but it might be that someone sees them as more attractive now than they did a couple of weeks ago. Someone with a vision and a bit of cash, I hope they would recognise that Sheffield Wednesday has so much potential to be built up to a position of strength again.
“I look at another North East club, Sunderland, as inspiration. They have been through the mire but are back in the Premier League. We are a similar style club to Sunderland. It will take time and money, but there is some hope because of the fanbase, the history, and great city.”
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‘I’m a negative’ - Mike Ashley
Rewind to a time when Ashley gave arguably his most honest account of his time as Newcastle owner. He told the Daily Mail in 2019: “I'm a negative to that football club. It's not a secret. I don't feel sorry for myself. It is down to me, not Newcastle.
“I give myself one out of five in some aspects because I made proper mistakes, and football isn't a very forgiving place. I didn't just shoot myself in the foot; I blew my own leg off.
“People would look at me and think I'd gone temporarily insane. They didn't know what I was doing. It is so much bigger than when I got involved. I thought at the time I could put in £10million, £20million and it would make a big difference. And it would have done. Now - it's nothing.
“Put in £10million and it's a joke. OK, that's how the market is. But it's not something I can afford, and it's not something Newcastle can afford while I own it. The overriding reality is that I am just not wealthy enough to own Newcastle. I genuinely believe you need £1billion. People say £500million but I'd bet anyone that these days you can't do it for that. Not to compete at the very top.”
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